Power bills to rise significantly!
You really should be speaking to your energy provider now!
Each year, the energy regulators on the island publish an information note on the network elements of your electricity bill plus details of the maximum charges which the power generators can recover for providing capacity and when this is power is not required.
The 2017/18 statement of charges was published last month and is available by downloading the document below.
On the face of it, it appears that Network Costs are to remain relatively flat, however we have been speaking to suppliers and there is likely to be some significant changes in this element of your bill when your load profile is applied - for some, the network and market operating costs represent almost half of the total end bill.
These charges combined with a rise in the cost of generation (and a new wholesales market from May 2018) could see the monthly cost of your electricity rise significantly. If you’ve not done so already, speak to your supplier before your October bill arrives to see how you can mitigate against some of these costs.